Covid-19 crisis draining theatre’s reserves, says artistic director, who announces new community schemes and streamed shows
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The Old Vic, one of London’s oldest and most illustrious theatres, is in a “seriously perilous” financial situation caused by the Covid-19 crisis, says its artistic director, Matthew Warchus.
Warchus said that the Old Vic is one of a group of organisations, including Shakespeare’s Globe, the Royal Academy and the Royal Albert Hall, that have “significant cultural presence but, unusually, no government funding”. The theatre is a charity that relies entirely on ticket sales, sponsorship and donations. It has some reserve funds but according to Warchus it is a matter of “a small number of months” before those run out and there is “no safety net” after that.
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